NYSE Member Firms Report Third-Quarter 2001 Earnings

New York Stock Exchange member firms that conduct business with the public reported 2001 third-quarter after-tax profits declined by 83.9% to $405 million and revenues decreased 26.5% to $43.64 billion, compared to $2.52 billion in after-tax profits on revenues of $59.34 billion in third-quarter 2000. In the first nine months of 2001, the firms reported after-tax profit of $4.93 billion on revenues of $152.50 billion, compared with $11.36 billion and $183.71 billion, respectively, in the first nine months of 2000.

For third-quarter 2001, NYSE specialists reported an after-tax profit of $57 million on revenues of $347 million, compared with a profit of $165 million on $491 million in revenues for the same period in 2000. In the first nine months of 2001, specialists reported an after-tax profit of $310 million on revenues of $1.322 billion, compared with $555 million and $1.591 billion, respectively, in the first nine months of 2000.

Comparative financial results are charted below:

	3rd Quarter 2001	3rd Quarter 2000	2nd Quarter 2001	Nine Months 2001	Nine Months 2000
Revenues	$43,641	$59,338	$50,798	$152,499	$183,706*
Expenses	43,018	55,467	47,979	144,918	166,224*
After-Tax Profit/Loss	405	2,516	1,832	4,927	11,362*
After-Tax Annualized Return on Capital	1.1%	7.3%	5.0%	4.5%	11.4%
Assets	2,680,452*	2,342,225	2,562,618	2,680,452*	2,342,225
Capital & Subordinations	150,319*	139,721	146,179	150,319*	139,721
Commission Revenues	6,062	7,415	6,668	20,215	25,868*
Number of Firms Reporting	261	273	258	272	284
Number of Profitable Firms	158	210	171	178	242
Aggregate Pre-Tax Earnings of Profitable Firms	2,807	4,300	3,482	10,970	18,470
Number of Unprofitable Firms	103	63	87	94	42
Aggregate Pre-Tax Earnings of Unprofitable Firms	(2,183)	(428)	(663)	(3,388)	(989)

	3rd Quarter 2001	3rd Quarter 2000	2nd Quarter 2001	Nine Months 2001	Nine Months 2000
Revenues	$347	$491	$451	$1,322	$1,591*
Expense	255	204	267	795*	627
After-Tax Profit	57	165	108	310	555*
After-Tax Annualized Return on Capital	6.6%	23.6%	12.6%	12.5%	27.5%

*Record level
**Regulatory Requirements Amended June 2001

Note: For member firms dealing with the public, the figures collected by the NYSE include revenue from all sources, including trading, interest and commission income. Since the NYSE member firm community is made up of corporations and partnerships, after-tax earnings are presented on a pro-forma basis assuming a regular corporate tax rate or credit of 35 percent.

The category of member firms dealing with the public generally excludes specialists, but includes firms that primarily trade for their own account, rather than doing a public business.

After-tax earnings for NYSE specialist units are based on an aggregate tax rate of 41 percent for federal and local taxes.

NYSE Member Firms Dealing with Public (Financial Summary) (pdf format)


Statement of Income (Loss) and Expense Unconsolidated (pdf format)


Statement of Financial Condition (pdf format)